Baytex Energy (NYSE:BTE) Stock Price Down 5.2%

Baytex Energy Corp (NYSE:BTE) (TSE:BTE) shares dropped 5.2% during trading on Monday . The company traded as low as $1.28 and last traded at $1.28, approximately 2,023,194 shares changed hands during trading. An increase of 5% from the average daily volume of 1,930,963 shares. The stock had previously closed at $1.35.

BTE has been the subject of a number of research analyst reports. ValuEngine raised shares of Baytex Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James reaffirmed a “buy” rating and set a $3.00 price objective on shares of Baytex Energy in a research report on Friday, August 2nd. Zacks Investment Research lowered shares of Baytex Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Credit Suisse Group initiated coverage on shares of Baytex Energy in a research report on Monday, July 15th. They set an “outperform” rating and a $3.50 price objective for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Baytex Energy currently has a consensus rating of “Hold” and a consensus price target of $3.87.

The stock’s 50-day moving average price is $1.43 and its 200 day moving average price is $1.62. The firm has a market cap of $728.09 million, a price-to-earnings ratio of -14.22 and a beta of 2.56. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.64.

Baytex Energy (NYSE:BTE) (TSE:BTE) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The business had revenue of $360.35 million during the quarter. Baytex Energy had a negative net margin of 6.62% and a positive return on equity of 5.54%. On average, research analysts predict that Baytex Energy Corp will post 0.19 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Nova Scotia raised its position in Baytex Energy by 21.5% in the second quarter. Bank of Nova Scotia now owns 170,517 shares of the oil and gas producer’s stock worth $254,000 after purchasing an additional 30,152 shares in the last quarter. Corient Capital Partners LLC acquired a new position in Baytex Energy in the second quarter worth about $33,000. CIBC Asset Management Inc raised its position in Baytex Energy by 12.0% in the second quarter. CIBC Asset Management Inc now owns 324,579 shares of the oil and gas producer’s stock worth $503,000 after purchasing an additional 34,867 shares in the last quarter. Schroder Investment Management Group raised its position in Baytex Energy by 30.1% in the second quarter. Schroder Investment Management Group now owns 3,740,215 shares of the oil and gas producer’s stock worth $7,593,000 after purchasing an additional 864,596 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in Baytex Energy in the second quarter worth about $355,000. 20.16% of the stock is owned by institutional investors and hedge funds.

Baytex Energy Company Profile (NYSE:BTE)

Baytex Energy Corp., an oil and gas company, acquires, develops, and produces oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. The company offers light oil, natural gas liquids, shale and natural gas, heavy gravity crude oil, bitumen, and heavy oil.

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